{"id":106920,"date":"2021-02-12T14:23:05","date_gmt":"2021-02-12T14:23:05","guid":{"rendered":"https:\/\/fin2me.com\/?p=106920"},"modified":"2021-02-12T14:23:05","modified_gmt":"2021-02-12T14:23:05","slug":"wall-street-set-to-edge-lower-at-open-as-energy-stocks-slip","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/wall-street-set-to-edge-lower-at-open-as-energy-stocks-slip\/","title":{"rendered":"Wall Street set to edge lower at open as energy stocks slip"},"content":{"rendered":"

(Reuters) – Wall Street\u2019s main indexes were set to open slightly lower on Friday as energy stocks slipped while investors booked profits after a rally on bets of fiscal stimulus and a vaccine-fueled bounce back in the economy.<\/p>

FILE PHOTO: Traders wearing masks work,on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS\/Brendan McDermid\/File Photo<\/figcaption>

Chevron Corp, Occidental Petroleum Corp and Exxon Mobil Corp dipped between 0.5% and 1.1% in premarket trading as oil prices retreated on demand fears. [O\/R]<\/p>\n

U.S. President Joe Biden will meet with a bipartisan group of mayors and governors on Friday as he continues to push for approval of a $1.9 trillion coronavirus relief plan.<\/p>\n

All three major indexes hit record highs this week and were on course for their second straight weekly rise, as a sharp drop in new COVID-19 cases and hospitalizations also buoyed hopes of life eventually returning to normal.<\/p>\n

U.S. stock markets will be closed on Monday on account of George Washington\u2019s Birthday.<\/p>\n

\u201cThe markets have gone up tremendously,\u201d said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.<\/p>\n

\u201cIt\u2019s going to be a long weekend and it\u2019s going to make things more volatile and there is just less interest in buying more.\u201d<\/p>\n

A Reuters poll showed the U.S. economy is expected to reach pre-COVID-19 levels within a year as the proposed $1.9 trillion fiscal package helps boost economic activity, but it\u2019s likely to take over a year for unemployment to fall to early 2020 levels.<\/p>\n

With the markets near historic highs, many analysts have cautioned of a near-term pullback, with new coronavirus variants and bumps in vaccine distribution posing as threats.<\/p>\n

At 8:17 a.m. ET, Dow E-minis were down 28 points, or 0.09% and S&P 500 E-minis were down 6.25 points, or 0.16%. Nasdaq 100 E-minis were down 14.75 points, or 0.11%.<\/p>\n

Largely upbeat earnings update have also supported market sentiment. About 82% of 355 S&P 500 firms have topped analysts\u2019 estimated for fourth-quarter profit, well above the average beat rate of 76% over the past four quarters, per Refinitiv data.<\/p>\n

Walt Disney Co rose 1.4% after the company swung to a surprise quarterly profit as \u201cThe Mandalorian\u201d and \u201cSoul\u201d lifted its fast-growing streaming business, outweighing pandemic worries about its hobbled theme park operations.<\/p>\n

PayPal Holdings Inc rose 3% as several brokerages raised price targets on the stock a day after the payments company\u2019s investor day call.<\/p>\n

Economic data at 10 a.m. ET (1500 GMT) is expected to show that a reading on the University of Michigan\u2019s consumer sentiment index edged up to 80.8 in February from 79 in January.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Wall Street\u2019s main indexes were set to open slightly lower on Friday as energy stocks slipped while investors booked profits after a rally […]<\/p>\n","protected":false},"author":3,"featured_media":106919,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nWall Street set to edge lower at open as energy stocks slip - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/wall-street-set-to-edge-lower-at-open-as-energy-stocks-slip\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall Street set to edge lower at open as energy stocks slip - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – Wall Street\u2019s main indexes were set to open slightly lower on Friday as energy stocks slipped while investors booked profits after a rally [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/wall-street-set-to-edge-lower-at-open-as-energy-stocks-slip\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-12T14:23:05+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/02\/cnewsfotor1-2.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/wall-street-set-to-edge-lower-at-open-as-energy-stocks-slip\/\",\"url\":\"https:\/\/fin2me.com\/markets\/wall-street-set-to-edge-lower-at-open-as-energy-stocks-slip\/\",\"name\":\"Wall Street set to edge lower at open as energy stocks slip - 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